Who would have thought that money could be worn in the form of a watch or a fitness tracker, located on the wrist. The appearance of this new technological advancement is not a legitimate dollar bill on your arm, but the technology is pretty close to it. Fitbit, Apple, Samsung etc. are all hopping on this new type of payment processing evolution. Fitbit is the latest company that purchased a wearable payment platform called Coin. Coin is one of the dominant providers that offers this technology today. It is a device that holds all your cards, numerous accounts, gift and loyalty program information and more in one secure place. One of Fitbit’s main focal points are improving health and fitness as best they can and what better way to ensure this then by providing it as a wearable device. Fitbit now wants to make life simpler not just in the health industry, but overall. As a result they are introducing Coin technology that will be available on this device. Fitbit is already worn on millions of people’s day in and day out. With this in mind, the company recognized the opportunity to make their device more versatile by allowing digital payments to be available at the palm of their hand by using a Fitbit as a payment processor.
The Coin will now enhance the Fitbit in more ways than one such as increasing the battery life dramatically. The Coin encompasses 2 year built-in battery life without recharging required. This will be a key advantage for Fitbit, because it will allow them to have a one up on other wearable payment technologies. Fitbit knew that integrating with Coin was a smart business move. One reason was the fact that the Coin technology is currently sold out and has shipped hundreds of thousands of products already. This gadget lightens your wallet, while also providing high-end security measures,ensuring all information is protected. Physical wallets are beginning to fizzle out. With the Coin demand so high, there is a chance once the Fitbit is released consumers will be jumping on this new trend! Payment processing is changing by the minute and we have all the latest updates so check back with us on our blog to find out more industry information.